Welcome to our New Website!

We're excited to launch our new site - and a new domain name... SecFed.Bank. Read all about our update and what it means for you. Read more »

Security Federal Savings Bank

CDs & IRAs


Nope, we’re not talking about the shiny disks you used to use to play music. In the bank world, a CD (or Certificate of Deposit) is a special account where you select a length of time to loan us your money and we pay you back in interest.

  • A CD is sometimes called a “time deposit.”
  • The funds in the CD are kept for a specific period of time to earn a specific amount of interest.
  • Generally, the longer the term of the certificate the higher the rate of interest earned.

A minimum deposit is required to open the account and a penalty applies for an early withdrawal (see disclosure for details).

Individual Retirement Account (IRA)

Would you rather spend money on something you want today, or save it for retirement? We are guessing you said “spend it today,” but the future you would say “save it for retirement!” 

An Individual Retirement Account is a savings account that acts like a 401(k) account but can be opened on the individual level and doesn’t need to be opened through your employer. Even if you already have a 401(k) through work, you’re eligible to open an IRA with Security Federal.

  • Retirement savings account with Tax benefits
  • Traditional IRAs or Roth IRAs are available

A fee applies for early withdrawal (see disclosure for details). 

You may be interested in our: Personal Savings Options

* Savings and money market accounts are subject to Federal Reserve Regulations D, which permits no more than 6 pre-authorized or automatic transfers per statement cycle


Checking Promo

We’re firm believers that kids should learn to properly manage a checking account by high school, and with Youth Checking, your child can.

Learn more